In this Zcash technical analysis, we will examine the current price action, trading volume, key levels and indicators for ZEC-BTC. Zcash is a privacy-focused cryptocurrency that utilizes advanced cryptographic techniques to protect users’ transactions and personal information. With its unique “shielded” addresses, Zcash allows for fully anonymous transactions, giving users the freedom to control their financial privacy. Additionally, Zcash’s decentralized governance model ensures that the network is maintained by a community of stakeholders, rather than a single entity, making it a more secure and resilient platform for the future of cryptocurrency.
Zcash Price Overview:
As of May 14, 2024, Zcash is trading at approximately 0.00036 BTC. Let’s dive into the detailed price action for ZEC-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00035 |
| High (H) | 0.00036 |
| Low (L) | 0.00035 |
| Close (C) | 0.00036 |
| Volume (C) | 1,491.79 |
- Open (O): The opening price for today’s trading session was approximately 0.00035 BTC.
- High (H): Zcash reached a daily high of around 0.00036 BTC.
- Low (L): The daily low for ZEC-BTC was approximately 0.00035 BTC.
- Close (C): At the time of analysis, Zcash is trading near its daily close of 0.00036 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.47% |
| 3D Change (%) | -2.27% |
| 7D Change (%) | 0.50% |
| 30D Change (%) | 8.10% |
| 90D Change (%) | -12.00% |
| YTD Change (%) | -43.25% |
Over the past three days, ZECBTC has declined by approximately -2.27%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 0.50%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ZECBTC maintaining an upward trend of approximately 8.10%, despite intermittent fluctuations. Examining the last 90 days, ZECBTC has witnessed substantial fall of approximately -12.00%, reflecting strong long-term confidence. Year-to-date, ZECBTC has steadily declined by around -43.25%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Zcash Live Chart:
You can access a live price chart for ZEC-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.48867.
- Momentum score is 0.00333.
ZEC BTC Technical Analysis
Zcash Trading Volume:
The trading volume for Zcash (ZEC) over the past 24 hours has been insignificant, with approximately 1,491.79 BTC traded against ZEC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): ZEC is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Zcash is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for ZEC-BTC is currently in the low zone, around 44.47893. This suggests that Zcash is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Zcash (ZEC-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Navigate challenges in realm of Zcash (ZECBTC) at 3.61e-04 BTC with technical analysis pointing to bearish outlook and potential downturns.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.